that's macau's new tourist hub. at this point, it's unclear how much these new casinos are going to cannibalize their existing ones, but these openings were very well timed. wynn is more focused on appealing to high rollers. i mention this because the 87-year-old billionaire who owns galaxy entertainment says this is too early to call this a recovery. las vegas sands is the best way to trade macau. on the other hand, though, wynn is currently generating better numbers. i prefer to take my cue from them. wynn is cheaper. las vegas sands is 24 times. to be sure, i don't want to leave out mgm resorts. we like this company very much. while mgm has less macau exposure, the stock would be well worth buying here. after losing money for years, as the company is reorganizing, selling off assets in vegas. look again if you want to invest in macau, lvs or wynn. let me give you the bottom line. i did this piece tonight because you often ask me if it's too late to buy wynn, and i am telling you i think the low-hanging fruit has

>> august was a good month in macau. i think the key point is we are not selling macau.lling our international assets. we are separating our international assets from our domestic assets. rishaad: it is to reduce the drag? toknow, to allow people correctly, independently, and separately valued those two assets. macau has been a tremendous asset, but a volatile investment. macau is a volatile market for the whole industry. it has grown very quickly. declinesd 20 months of , and we think that separation for our shareholders will help them look at these assets on their own together with the portfolio.al shareholders have voted clearly and the stock has performed well. how much clarity is there in the recovery in macau? >> i would not say there is clarity, but the signs are good. we are very confident about the long-term future for macau. august was the first month where we have seen increases, modest. we are cautiously optimistic. we are very optimistic about the optimisticcautiously about the near-term. we have seen new properties come on board as well. we are looking for

./// ((denise valdez)) >>> las vegas sands is investing big in macau... and they're hoping their latest gamble will pay off. d opened the doors to the brand new "parisian macao." as you can imagine... it's french- themed... with a half size replica of the eiffel tower. the two- point- 7- billion- dollar resort has been in the works for years now... and is the company's fifth property in macao./// ((denise valdez)) >>> this comes about a month after steve wynn opened a brand new resort in the former portuguese colony. he spent more than four- billion dollars on "wynn palace." the opening of the two casinos comes during a long downturn in gaming revenues in macau... last month... casino revenues rose just over one percent... the first monthly expansion in more than two years. macau is the only place in china where casinos are legal./// ((dave courvoisier)) >>> it's a report card no one will be bragging about. up next on the valley's news leader... the areas where nevada is struggling ... when it comes to our children's education./// news music voice over: "

it is a bit early to be calling a macau recovery at this point.t when you talk about sustainable, long-term revenue growth, it is in the hands of the mass market segment. this segment generates lower it is long-term study revenue compared to the vip still declining. angie: it is because of the new resort. is that going to help? >> absolutely. it could drive more overnight visitation and business to the strip overall. it adds to the collection of sands china's results. angie: what should investors be looking for? >> operational efficiency across the board. the man is only just coming back , and so it is about being able to maneuver through this type of environment and whether or not they can uphold those margins. angie: thank you. coming up next, china about to implement sweeping changes to consumer taxes? we will take a look. this is bloomberg. ♪ ♪ announcer: from our studios in new york city, this is "charlie rose." charlie: gloria steinem is here. she is a feminist icon, a writer and an inspiration to men and women. she has led an extraordinary

macau is four times bigger than las vegas. not only will the new project put added competition on existing hotels and casinos but regional rivals like the philippines and vietnam are eagerly trying to lure away chinese gamblers to their own casino. >> thank you so much. now it is time for the press review. catherine. i catherine. the big news in the united states is donald trump's visit to mexico and his subsequent hard-line speech on immigration. >> everyone has been waiting or watching to see what donald trump would do and he did not disappoint. the washington post opinion papers says it is a return to form for donald trump, saying he andrsed his xenophobia self with the geithner -- the kinder front in mexico saying words like cooperation and sharing objectives, but a few hours later, back in the u.s. the tone completely changed. it was back to the old trunk. -- trump. there will be no amnesty. the editorial pages, they have this funny little cartoon. the cartoonist with trump flip-flopping. you can see a truck being driven

they might have been named macau sands.the charts told you about the transformation well ahead of the wall street journal. they weren't talking about macau here. the chartists were thinking, there are buyers lurking. we often say that volume is a lie detector, telling us whether a move is for real or not, when there is a small move on light volume, technicians ignore it, but when there is a small move on heavy volume, the chartists drill down to see if it's a precursor to something bigger. charters are looking for accumulation or distribution. that's a synonym for selling of a stock. they measure these moves by something call add accumulation distribution line. when the calculation of the accumulation distribution line is arcane, i care passionately about it. it can go against the grain of conventional thinking. that's why i like charts so much. they go against the grain, and sometimes they're right. we saw it right in monsanto in 2012. this was one i completely got wrong. thank heavens for the chart. i didn't care for the

this year, it is actually struggling, which could be an opportunity for macau.et a taste of paris closer to home. angie: you could go check out the eiffel tower. that sounds a little contradictory. there are challenges still for macau. >> there are near-term challenges always and two evident once our profit margins. labor is an issue. there are more people that are needed on the floor and we have room rates being cut thanficantly down by more 20% since early 2015. and lastly, cannibalization. you have seen business shift away from the peninsula. thank you for that. always looking into those questions for us. we will talk about unique investment series that compares financial risk to rocky and bullwinkle. this is bloomberg. ♪ >> from our studios in new york city, this is "charlie rose." charley: mr. president, thank for talking to us this monday afternoon. everyone like to know how the secretary is doing. fine. is doing she was doing better last night. messages.d text a friend of ours called and left a message. her husband had been hospitalized for pneumonia and

casinos macau for high-level politicians suddenly dried up. but the crack down was coupled with an anti-vice campaign, which specifically targeted the kind of expensive liquor that people regularly give has gifts to government officials, aka, bribes. no, they didn't give this one because that doesn't get the job done. so china was a huge market for diageo, but the corruption clamp down really at t on top of that, the weakness in macau certainly didn't help either because casinos like their customers liquored up when they're gambling. johnny walker volumes declined by 18.6% in the asia-pacific region. that's why it's so significant. it seems the chinese communist party is softening its stance against vices like alcohol and easing. and if gambling is coming back, then drinking can't be far behind. so while it could take some time, i think we're going to be looking at a resurgence in the high end chinese liquor market and that is great news for diageo. one more point on the people's republic. i believe that bribery will make a big come back there

for the past 27 months, macau h as been plagued with slowing numbers in the vip space.e been trying to prop up mass-market customers in the face of the anticorruption drive not only in china but in macau. coming up, south african politicians have the reserve bank in their sights. ♪ ♪ treasuryouth africa's is under criticism from state owned companies. the finance minister is under police investigation. now the reserve bank is in the spotlight. let's go to johannesburg. how did the reserve bank get caught in the crossfire? yousef, it is one of the last institutions in south africa with a credible reputation in the country. it kept on going about its business without anyone bothering it. it has not been influenced by politics as of late. seems like every other instance of government has been captured. treasury is in trouble. it seems like the last place to go to was the treasury, rather, the reserve bank. seems to be a scathing attack against financial and state institutions, which has become a big issue. the issue is whether this will affect independence for the reserve

the economic slowdown has also hurt macau.: time for our quick what we give you context and background on issues of interest. drones have patrolled the skies above pakistan and of denniston and yemen and now there is a debate in the u.s. over plans to let the unmanned aircraft take flight for commercial purposes. it's a ways off as regulators grind away at the rules. the use of small drones has exploded getting a danger to pilots and privacy and security. in june, the u.s. faa issued new regulations on commercial drone use that were far less restrictive than its earlier rules. they said it would begin licensing commercial drone pilots. new regulations generally permit low-level flights that remain with inside of an operator. they don't go over people. and amazon and verizon have agreed to help the faa develop a traffic control system for drones. amazon has proposed setting aside airspace for high-speed drone deliveries. domestic drones can betray back to the 1917 kettering ariel no known as the bug which was meant to fly in a

./// ((kirsten joyce)) >> the southern chinese casino gambling powerhouse of (muh-cow) macau is getting a french twist. las vegas casino mogul sheldon adelson is opening a new hotel is a half-size replica of the eiffel tower in paris. (muh-cow) macao is the only place in china where casinos are legal./// ((brian loftus)) >>> james corden continuing to show off his music skills.... when he invited meg ryan and adam scott to appear in "the bold and the lyrical" a soap opera comprised of all beyonce lyrics. james corden: how was your day meg ryan: um....it was okay james corden: you're acting kinda shady you ain't calling me baby why the sudden change? meg ryan: nothing....nothing james corden: ring the adam scott: you must not know about me! i'm her baby boy meg ryan: uh oh adam scott: uh oh james corden: uh oh no no meg ryan: uh oh adam scott: uh oh james corden: uh oh no no ((brian loftus)) >>> the late late show, has just been awarded two emmy awards for outstanding interactive program and best variety special. over 20,000 nevadans rely on planned parenthood but congressman heck voted

there is even an increasing macau gaming revenue which some of the analysts think correlates .have not seen any stronger swiss watch sales coming through yet. there are the sort of glimmers , a very difficult second half and and of the year for the luxury group. it has only gotten a little better and they will get a bit of a gain. vonnie: is this a secular shift in how people are spending money or has this to do with things like currency weakness and demand dropping globally? mark: is it a secular shift? i know you could not hear. on how people are spending money or is it related to a currency shift? andrea: we have seen industry affected by a lot of factors. currency was a big problem. the u.k. has really benefited from the pound falling. there has been lots of demand for the u.k. but there does seem that a command -- concern perhaps consumers and emerging markets are spending their money in different ways, and that is not great for the luxury industry. vonnie: there is constant chatter about how to fix this, including things like see now, by now after fashion week around the

. >> macau's fortunes may have finally changed. gambling revenues ended a 26-month straight are streak of contractions. ast week a u.s. tykeoon opened their most expensive casino yet , with floating fountains and dancing cars. >> the amount of roirvings the right of -- rate of growth was unprecedented, historic and in mamany cases not just extraordinary but outrageous. >> later this month, another $3 billion resort will open with more multibillion ones to follow over the coming two years. all these projects were initially budgeted for earnings about four times bigger than what is currently being generated but the slowdown in the economy as well as the crackdown on corruption has lead -- led to a steep drop-off in high rollers and deep pockets customers. they're trying to diversify by focusing away from gambling and more on shopping, dining and entertainment. not only will the new products put added competition on existing hotels and casinos but regional rivals like the flip ines and vietnam are -- philippines and vietnam are eagerl

currently macau accounts for half of wynn's overall we have knew.op performer, urban outfitters, it is volatile, but sales have been better than expected and lower markdowns compared to last year have boosted gross margins. and the losers, royal caribbean cruises down 29%. h&r and signet down 30%. geopolitical events like recent terror attacks abroad, brexit and zika concerns weighing on the travel related stocks. signet down 37% as it deals with accusations it misled. >> it is not just about the macro picture. all of the individual stock stories -- landon, thank you. >>> time for our daily twitter and facebook question. now that the fed decided to keep interest rate hikes on hold, are stocks clear to head higher? say, yes, don't fight the fed or no, a pullback is overdue or some people not paying attention to their 401(k) statements. so, anyway. >> the results later in the show. >>> now to top trending stories. registering to vote can take less than it takes to post a selfie because a new chat bot called hello vote is easing the registration proces

macau, people spend money. is this after an incredibly that run?lways starting to see some better luck -- or are we starting to see some better luck? tom: i think you are right. in a sense, it went down so far there wasn't anywhere else to go but stabilization. there is also some behind-the-scenes stories about corporate actions, new casinos opening. that is affecting the number. at the same time, the macau gambling numbers are seen as a canary in the coal mine for china's economy. that slump seem to register for china's consumers, as well as the impact of that crackdown on corruption which made it harder for china's elite to go overseas and spend their money. the rebound now could be taken as a broader sign of return of confidence. tom orlik, chief asia economist at bloomberg intelligence. you can see what has been going on with that maccallum number. it has been gradually recovering. the loss has been getting less bad but we finally crossed the line. if you go back to late 2014 and see what happened. it was that point that we start to get into th

hardly a bellwether for any economy but macau, but a surprise increase there of 1.1%. fx market, nothing of note. have a look at dollar-yen, where we have been trading the last -- 103, very critical level. the red line at the level moment for dollar-yen. let me just bring up chinese currency ahead of the 20, the meeting happening this weekend, a lot of people saying this chart -- let me bring it up -- this is where we will be before sunday. 658, 670 might be the limit here, before the chinese would hardly want this to be the topic of conversation during that meeting. very quickly, what is happening in the bond markets, the long end of the curve in japan selling off. we are getting yields, 10-year negative. highest level on the 30 year since august or april. manus, anna? anna: david ingles in hong kong.let us talk about the official factory gates numbers, rising last month to the highest level in two years. kevin hamlin joins us from beijing with analysis. what do the numbers tell us? can we say anything about how the economy is stabilizing? we have the official data an

. >>> the chinese territory of macau reporting a gambling increase there.ou have to go to may of 2014 for the last time. that's been helping shares of the companies that help operate the casinos in macau. >>> breaking news on the state of employment in the united states according to the latest report by challenger gray and christmas. august job cuts are at the second lowest level of the year with employers planning to shed a little over 35,000 jobs. here to break down the results, jon challenger, ceo of challenger gray and christmas. a good morning to you. thanks for joining us. is there clear sector or regional breakdown in this data? >> well, the standout for this report was the computer and tech sector. we saw 6103 jobs that were cut in that area. and really since the beginning of 2016 we've seen cuts from many of the big companies in that sector. hp, intel, dell, microsoft. and now in the month of august, cisco announcing major cuts. so it does seem like the tech sector is now going through some of the same changes that the energy sector wuch has been t

being invested in macau. the latest las vegas company to open a brand new resort there... in less than a month./// ((tedd florendo)) >>>wind advisories still in effect through this evening. but the winds have left behind more fall-like temps. how cool it will get coming up in your most accurate forecast<<<))) <<< news music voice over: "now, live...this is 8 news now at six." >>> ((dave courvoisier)) >>> the mercury scare at johnson junior high has now moved from the campus ... i'm dave courvoisier. ((denise valdez)) >> and i'm denise valdez. a family of four had to leave their home over the weekend. epa officials believe it's contaminated with mercury. we have team coverage tonight karen castro is at the junior high school -- but let's start with shakala alvaranga who has the latest on the shift in the investigation. shakala? ((shakala alvaranga)) dave and denise.. the emergency response team has been at this home behind me on san grail court since around 10 this morning. hazmat crews from the u.s. afternoon ... starting the clean up process ... holding large white bags f

high rollers or whales have been scared away from macau.w offering, 3,000 rooms for $300. pretty good value for money spent. parisian will earn about $300 million in 2017, pretty good for the first year out in these current conditions. back to you. >> thank you so much, susan li. >>> the selloff remains fairly severe, not quite as severe as friday. this would be the third in a row. at one point a few moments ago on the s&p 500, there were 16 -- that's one six -- components in the green. oil, by the way, down 3%, too. >> oil and focus yet again. we just dipped below 30 a barrel. iea forecast was not what investors were hoping for. we'll see how the opec leaders and all their job earning over the next few weeks can directionally move the market. 45 bucks, though, is what a lot of producers, between 45 and 50, a sweet spot for whether they're actually able to make money. >> jim's point, of course, in the 9:00 am show, as you enter this blackout window leading up to the fed meeting, oil does really drive the narrative. and that resulted in yest

las vegas sands and wynn resorts both seeing some major gains after macau reported a 1.1% increase invenue last month. it is the first increase in more than two years. that's interesting, but we've got a lot of supply coming on in cothai now. >> a lot of supply coming on, but steve wynn put his money where his mouth was. when the stock started accumulating in the 50s, he started accumulating stock. and he's reaping the awards. good for him. i think wynn is a buy and i think it trades north of $100. las vegas sands, not as much. but wynn to me is really interesting. why? because steve wynn is a great operator. >> would you rather -- >> i love this game! brian, we played this game at 5:00! o 5:0 5:00! oh, you know the game. sorry, brian. >> brian's like -- >> would you rather, a company with more macau exposure like a wynn or more las vegas exposure like an mgm. >> i would rather the former, a company with more macau exposure. gets you back to wynn. >> vegas. unlike you, i love this country. >> that's hurtful. unlike -- >> you're hurting the viewers with that shirt, man. >> i'm going to

for the first time in two years, gambling revenue ha risen in macau.esorts attracted recreational gamblers and taurus. china's crackdown on corruption scared off gamblers from the mainland. it has also hurt macau. that is your bloomberg business flash. guy: thank you. let's stay in china. the official meeting for factory activity in august hit the highest levels since 2014, unexpected momentum into the peak manufacturing season. joining us is the chief major economist from bloomberg television. is this number a blip? tom: i do not think so. there are other positive numbers at the same time. everything from satellite images of china's manufacturing parks to the flash ratings for career exploits with tend to move closely aligned with china pointing to momentum or chinese manufacturing in the second half. guy: is it just big companies benefiting? they would receive most of the stimulus. you wonder if we are getting a bifurcated manufacturing sector. tom: i think that is a genuine trend. the way stimulus works in china. money to big enterprises, they are t

a downgrade from credit suisse, wynn macau getting the worst of it.seeing the reaction there. up.co 33.7% compared to last the boards, and let me , thesehis, south korea two obviously related stories when you talk about this ongoing who gets what of hanjin shipping. saying 40 out of 97 ships have completed unloading. gets theomes to who ships, there is talk that hyundai merchant is considering buying up perhaps some of these container ships of hanjin shipping. banks approaching hyundai merchant here. a great story, on the website, recommended to read that. hyundai motors seeing the biggest decline in six weeks. perhaps reduction disruptions of 100,000 vehicles, shares down over 2%. haidi:'tis the season for their strikes. japanese parliament returns today after its summer recess with the tpp high on the agenda. supporter remains a of president obama's landmark trade deal despite resistance at home and abroad. 'brett millers joins us now. what is at stake for shinzo abe? p has been attached to his reform agenda. he has used it for leverage. it is start

it all about the slowdown we see in macau? >> i think so. that the local gaming market is showing the recovery. the tables and slots are currently at. full capacity. it is the first time they recorded profits after five straight quarters of losses. some analysts are betting on the president to deliver on its infrastructure promises. phase one of the project is set to open on september 22, but this does not mean there is zero upside from foreign gamblers. they have seen growth in foreign visitors from countries such as china, which has been the trend since the election. he notes that improving relations between philippines and china can be a boost for bloomberry. yvonne: all right. thanks. where should investors place their money? it is the question we will be putting to our guest next. this is bloomberg. ♪ a quick check of the latest business flash headlines. resident putin hails the victory of the united russia party with polls giving them half the vote. his popularity remains high. sanctionsternational helping to push the economy into rece

today we had the first year growth in gaming revenue in macau since early 2014.ou can see the blue bar ticking up a little bit, the first time since may 2014. i like to look at this as an index, because there are animal spirits in china, and gambling, and i love gambling. so maybe that is a good sign. >> and in a similar part of the --ld but looking at the u.n. what this is showing, and i have to give credit to our strategist traitor --g, he is a trader that writes for bloomberg. want -- yuan is breaking out and appreciating. he says the timing is right for this to be sustainable, and has bullish implications, particularly south korea and malaysia. -- you may have been watching the wrong indicator, .ixated on the arbitrary level i thought this is pretty interesting. joe: very interesting and important to watch. i want to break some earnings right now, a company that makes your pants and shorts for men, , $.33 a share, revenue over $5 billion. key, the company sees revenue that is basically in line with what the street has. 5.35 to 5.45. than the is lower to $.44.

hugh, the lawrence son of stanley hugh, the macau up themagnet, has opened first casino in vladivostok has already poured almost $200 million into it and they are looking to expand and spend another half $1 billion on the next casino. there are three other groups building casinos right now. mark: is russia risking overdependence on power-hungry foreign trying to lure investors? is going ink putin this with his eyes wide open. it is one of the furthest east areas in russia and he said it is his national priority to develop that. you have may 6 million people on the russian side and 100 million chinese south of the border. they are going to have to find a way to bring in chinese money and help develop it to keep them at arms length. begun: putin has artie alreadyg for this -- begun preparing for this. changing the legal structure in vladivostok. jake: they have created a freeport which basically means that you get a lot of tax incentives to go there and open a business. there are no duties and you have cheap export and import, and they are promising not a visa free zone but just where yo

yesterday, we had that solid rally coming through on the hang stocksarticularly casino , macau casinoing for the first time in 27 months. today, a switch out of stocks that did well yesterday like the banks. a pretty flat day on the open in shanghai, down by a 10th of 1%. we are seeing flat movement on the nikkei and the kospi. in australia, you are seeing risk avoidance, particularly gold players higher, putting money into those safe haven assets, but energy players coming under selling pressure. new zealand flat. philippines very flat. , which underperformed yesterday, doing well today. a lot of stocks to watch today. numbersst car sales came through in the u.s., a disappointment. nissan andn honda tour yoda fallen early japanese nissan, andda, toyota falling in early japanese trade. glencore could be making a play for coal assets worth a billion dollars from santos. rishaad: parts makers are cashing in on china's push to boost the sales of electric cars. second-biggest biggest maker of batteries look set for an ipo. how are these battery makers position? due toe a supply issue the

offense will be similar to when rg3 started but they will of course taylor some of the stuffg3 for josh macau. what does josh do that is better than rg3? >> i don't think it's good to compare what he does better than the ball at anybody. he's more athletic than i think people give creditny and say he is. he's very athletic and he's a leader. >> in high school football, the euclid panthers use an explosiv offense to outscore the mentor cardinals on thursday night. in the first half, the panthers young mr. collins was highly productive. ramon into the end zone and more than 150 yards receiving in the first half broadcast. euclid had a ten-point leadcin t the cards come close. all the sudden it is a tight game. mitchell floats a perfect pass into the basket. collins scores the young player there. euclid boasts a strong 47-37 victory over again from mentor. congratulations to bedford wants her heights. extended coverage on air and online tonight. we will see tonight at 11:00. a great crowdd atlanta for the greater cleveland sports hall of fame award. this year's class former browns great kevin ma

casino stocks in macau, one of the gainers. we could see more stability in the gaming industry. bloomberg west. a tech giant released an updated model of its important products and we are not talking about apple. sony and its two new playstation ur. in november, it will begin selling a souped-up version of its console. it can run virtual reality games. also replacing the assisting the us for -- ps 4. the ps3 had a lifecycle of three -- of nine years. why the rush? cory johnson caught up with sony playstation chief and asked him that. >> playstation 4 will be making its fourth christmas this year. we are constantly updating the machine to give it more abilities and features. this time, we are concentrating on the display aspects of it. we brought 4k gaming into the living room. as well as more support as well. we are using our power against the technology to get more features and abilities to users and developers. >> when you imagine how this will affect your base here, what numbers are we at? what percentage of users do you feel are going to want this upgrade and not wait for th

wynn macau down 2%. , that's playing out quite nicely, up 25%. flip the board, south korea, these two are related when you talk about hanjin shipping and hyundai merchant. hyundai merchant now considering perhaps purchasing some of the ships of hanjin shipping. a lot of that comes down to the banks. now the banks can't get repaid, so they're going to hyundai merchant. you can read about the story on the website. hyundai motor, workers going on the first full on strike in 12 years. hereet 10 must every year -- you get one almost every year here. we've been talking about central-bank policy with our guests today, including the former vice finance minister of yen,, also known as mr. eisuke sakakibara. he says the shift towards yield curves by governor haruhiko kuroda is appropriate. , thence he took over easing of monetary policy has worked. it has led to the depreciation of the currency and substantially increased equity plays. that positive impact of easing is now coming to the final stage, but so far, his performance has been quite good. central

we had numbers of macau yesterday. sounds weird, in macau revenue up 1%. june minus 8.5%.itor, thank you matt horwin, the flights into mccarron and they're up very big. vegas is booming. if you want to do this in a low risk way, do mgm. >> that's what i was going to say. of course you have two companies to choose from now with the rehabbing been spun. they control it. >> right. >> but you can do mgm because that's where their business has focused. penalized to a certain extent for not having participated greatly in the growth as caesars did also but caesars has itsish auto shus. >> las vegas, sands, i have been fascinated with the career of steve wynn who tells it like it is on the conference call. he doesn't understand the game. >> you pointed out mr. wynn bought stock. >> a huge amount of stock in the '50s because he had faith and these numbers indicate that's right. the stock had a run. we had some kind of squishness in mckau. if this trend continues how weak is china. will they bring the jungettes back. junkets were part of that so-called soft corruption style. so ther

last night we got a purchasing manager's report that was better than expected and a huge report in macau gambling that's driving las vegas stocks and wynn dramatically higher. then there's the bizarre inconsistent state of individual american businesses. let's take the two sexiest subsectors of tech. the fastest growing, i'm talking cloud and cybersecurity. on tuesday, palo alto networks reported a terrific quarter. analysts interpreted as a deceleration. the highest quality cybersecurity stock immediately lost ten bucks, blink of an eye. then today upon further review, buyers rushed back into palo alto, took it up seven bucks. what happened to move it back up? nothing at all. there's not a single piece of research i can find to explain this move. my conclusion, maybe it should never have gob down to begin with. cloud is even more difficult to figure. the cloud, amidst an ongoing revolution. but last night sales force, king of the cloud, reported softness in the cloud business in the month of july. softness, how is that possible? the company cited its own execution problem for the decele

in much of europe due to lower tourism and growth in china was offset by weakness in hong kong and macau>>> the head of the european commission calling for brexit to happen as quickly as possible. this is his first formal address in terms of a policy address. >> he gets on the microphone when he can. this was a formal policy address and he called for greater union. we are talking about jean-claude juncker and his annual state of the union address today. you're watching "worldwide exchange." t in makes it easier to get here, the neighborhood is really changing. i'm always hopping on the train, running all over portland. i have to go wherever the work is. trains with innovative siemens technology help keep cities moving, so neighborhoods and businesses can prosper. i can book 3 or 4 gigs on a good weekend. i'm booked solid for weeks. it takes ingenuity to make it in the big city. what if 30,000 people i'm download the new app?s. we're good. okay... what if a million people download the new app? we're good. five million? good. we scale on demand. hybrid infrastructure, boom. ok. what if 30

a cow is looking forward to the house -- macau is looking forward to the holiday weekend.t to look at your biotech special -- this is a small company. we do not typically cover it. it had a huge market cap jump from $550 million to $900 million just today. reduces pressure on your eyeballs. that is having a huge pop in the p market. nonetheless, it is all about the retail sales coming up. jonathan: full coverage on bloomberg. we take it to the fx martin -- the most bearish trade, short sterling. and make sure to tune in at 10:00 a.m. eastern for interview and laborminister party leader jimmy corbyn. ♪ jonathan: from new york city, this is bloomberg. --the fx market we go sterling is week after the bank of england kept rates unchanged and play -- pledged another rate cut is in the cards. in the market, it is the biggest, bearish claim -- trade on a global fx. shorts on sterling have climbed to a record high. they've started to come off. are the bears about to capitulate? join us from london, stephen theo, and in frankfurt, head of currency research. david -- the data over t

richemont said slumping demand and inventory buy back in macau also negatively influenced results. every time richemont cominges o with a trading statement it's bearish. for the last two, three years it's been tough for this company to revive sales, specifically because of the crackdown in luxury and hong kong because of lower sales in hong kong and china. one analyst out there, john cox, he says the guidance is not as bad as it looks. he believes the margin has already bottomed in the second half of the year. he admits there's lots of ifs and buts but that consensus could rise once the dust settles on a volatile trading day today. quite a down day for many luxury stocks. the top left hand side, hermes off more than 7%. they had an 8% guidance they're scrapping for next year. analysts putting out commentary saying if they're scrapping it it's because they know they couldn't reach it and they will normalize in this new environment, this new environment with regards to spending from asia or different type of more cautious environment. and whether it's something that the entire indust

a 20e got macau ending months love -- 20 month slot. ump.pany must repay bondholders by $422 million in the third quarter. they will also need to raise additional capital by the end of the year. tesla has burned $3 billion in cash since late 2014. from individual movers, but the theme, you got pmi and waiting for jobs. caroline: exactly. the pmi really feeding into european trading. we have seen big moves in the united kingdom. outside with emma chandra for first word news. >> apple's ceo says they will stop sending overseas cash. -- ade the comment >> we pay the 400 to ireland. we paid 400 to the u.s.. provisioned several billion dollars for the u.s. for payment as soon as we repatriated. and right now, i would forecast said repatriation to occur next year. >> he is confident that apple will win its tax battle. he called it meddling that the eu will that apple must pay more than $14 billion in back taxes. british prime minister has sent out the first of brexit negotiations. she says she wants to -- she suggest that she is willing to leave t

they are talking about the context being challenging in hong kong and macau.ica is still uncertain. target. -- sales growth they're giving us their numbers for the first half of the year which do not be a million miles away. that profit came in at 545 million. the operating income is 826.8 million which is above the estimate of 818.5 million. backward looking, not too bad. in terms of the messaging, they are talking about sales growth target being ambitious. they are talking about the challenges ahead and abandoning this ex currency sales target. it is a company that is increased -- this is the company's largest division with some items commanding waiting lists. they could run up to a year. manus: did she wait a year for her kelly bag, i don't know. they are buying back watches from shops and retailers in hong kong. let's set about markets. futures -- let's talk about markets. london, frankfurt and paris all switching around. misery loves company but you're seeing a run in some of the asset classes. -- whention is if you you have had moments of volatility, peo

and macau will be able to have few tables senate hoped for. they will have 150 tables.projects to attract tourists. thank you. angela merkel is facing political humiliation when her to theost anti-immigration alternative for germany. this is in a state election. it raises questions over her political standing ahead of next years political election. saying that despite the setbacks, she does remain the best choice. annad shing is still with and myself. our guest earlier said, stop making such a fuss. you are all getting far too excited. concur? absolutely. maybe it has been a little bit boring with her in power? a nicely, this is not start to the crucial election year. going to create a lot of noise. it is a challenge for her. in terms of domestic and internal party management. but at the end of the day, it is way too early that she is on her way out. anna: we don't know her intentions as to regards the seeking a full-time. we might hear more by the end of this year? they want her to stay? carsten: absolutely. if the political fringes gain if these fringes gain power you

evening, yesterday hong kong and macau issued a statement warning any hong kong independence activitiesy showing beijing that beijing is highly worried and set this type of activity would endanger national authority and hong kong -- harm hong kong's prosperity. rishaad: [indiscernible] what does beijing, now, -- reporter: it is. ,ompared to the previous makeup which you have the very traditional pro-beijing camp and the pro-democracy camp. radicalhave this young, platform advocating for greater autonomy and also greater self-determination. so, this is something that beijing is not very familiar with. rishaad: record voter turnout is a good thing here. how is beijing going to handle cross-border relations in the future? thatter: you can argue there are increased after pro-democracy blocks because you have got from that, you know, 27 seats to the now 30 seats. if any of the previous, you know, kind of, indications, is any indication for beijing to sees,-- because, beijing you know, any unproductive element is some kind of danger to control so beijing might ramp-up, you know, -- [indiscern

this follows the first increase months.or macau in 27 perhaps we are seeing that big turnaround thatrs were looking for. matt: thank you. bayer andalks between monsanto are going forward. how soon could a deal get done? this is bloomberg. ♪ matt: you are watching "bloomberg markets." i'm matt miller. scarlet: i'm scarlet fu. will the fed hike rates next month? there is a lot of chatter about the next fomc meeting. rosengren today said waiting too long could threaten the u.s. economy. hsbc's, you had commenting. everyone is sure they are not going to do anything, there is no use in meeting. if they wanted to hike, the last thing they would need is a huge market shock. fed futures are being used to manipulate things higher. of officials said the markets focused on the wrong thing. not the next move but they should be looking at the path which is shallow and gradual. if we get a trade, does the market overreact? once they managed to hike over the next two years, they would get to 8%, if they managed once a year. you are right, the terminal values is what everyone should be looking at. -

for the first time in more than two years, gambling revenues risen in macau, casinos unexpectedly took.1% more in august. new resorts attractive recreational gamblers and tourists. crackdown on corruption has scared off high rollers from the mainland. time for our bloomberg quick take, when we provide context and background on issues of interest. drones have patrolled the skies above pakistan -- pakistan, afghanistan, and yemen for years. now there's a debate in the u.s. about plans to let the unmanned aircraft take flight for commercial purposes. regulators grind away at rules. ofthe meantime, the use small drones has exploded, creating a danger to pilots, privacy, and security. in june the faa issued new regulations on commercial drone use that were far less restrictive than its earlier move, and said it would begin licensing commercial drone pilots. new regulations generally permit only lower-level flights that remain within sight of an operator or nearby assistant, and don't go over people. verizon and other companies have agreed to help the faa develop a traffic control system for

numbers the stockshat still lately have been trading a little too optimistically, given the outlook for macauso much, julie hyman perry let's check in on the bloomberg first word news. sayse president of turkey he will work with whomever wins the u.s. presidential elections in november. president or the one sat down with bloomberg editor-in-chief john nickel suite in new york. her do one noted that -- erdog an noted that he started his presidency with george bush and with president obama. with president obama. >> we will continue our work with america. out of the question for us to break ties with america. erdogan blasted the u.s. for not extraditing an islamic cleric, who turkish authorities of blame for the failed coup. he dismissed u.s. arguments that in a tradition request must work its way through the judicial system. 162 bodies were pulled out of the waters off the coast just three days after hundreds of refugees heading to europe drowned. dozens more feared dead. egypt has been a traditional route for people seeking to reach europe by sea. meanwhile, hillary clinton says if she were pr

a lot of hope they bottomed out there in macau. >> chinese data was higher.>>> how do donald trump's words on immigration compare? >> john harwood breaks down what he said in arizona last night versus mexico city a few hours before that. john? >> reporter: bill, donald trump has got two imperatives in the race. hold his base and he's got to make it bigger because he's behind. we saw both of those impulses reflected yesterday when donald trump went to mexico and later spoke in phoenix. first of all, in mexico he met with president pena nieto and said that they were friends, that they were going to work smoothly together and when he was asked whether he was going to make mexico pay for that wall, whether they had discussed that, here's what donald trump said. >> we did discuss the wall. we didn't discuss payment of the wall. that will be for a later date. this was a very preliminary meeting. i think it was an excellent meeting. and we are i think we're very well on our way. >> reporter: now, that quiet tone meant to appeal to swing voters was replaced when he s

on indications of a recovery in the macau gambling market. global payments was upgraded.ayment technology services company has multiple drivers to continue its strong revenue growth. >>> all right. let's get back to our guest host larry bossidy. got a myriad of things to touch on. we touched on politics but not that much. have you ever -- i mean, it's never been where, you know, the population is kind of looking at the worst -- that's how most people view it. do you think that's accurate that it's two very undesirable candidates or could one of them surprise us? >> you hope in terms of being optimistic that one of them could surprise us. i do think it's the most unusual election i've ever seen. and, you know, i think i've never seen an election where there's more personal insults going back and forth as opposed to arguments over the issues of the day. maybe that's change over the next couple of weeks or at least they'll be more intense debate on the issues that confront the country. but you know, it's something that's unparalleled in our country in terms of the negatives

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. >> how much of your business is macau related?. >> but it's important. >> it's 12%. most of our money in the u.s. >> and mainland china you have a project there. china bashing would be bad for mgm. >> china bashing, mexico bashing, canada basher, europe bashing, uae bashing, it's all bad. it's all bad for the country. you know, trade, cyber security, working together. here's the difference. okay? if i could say this. i'm a business guy too. i believe that deals could be created where both sides win. common ground. you could create a deal. donald trump does not believe that. the only way he can be a winner is if somebody loses. you don't get deal after deal after deal as a company or as a country if you try to screw the other side. and, you know, i just -- that's the way i feel about the philosophy of business. -- founded my company. an immigrant american by the way. and he created a tremendous franchise. so the idea one can win, one can lose is wrong. >> but governor, i mean, it doesn't have to be us -- i guess trump would say tha